{"id":194303,"date":"2008-10-06T17:22:00","date_gmt":"2008-10-06T22:22:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/06\/gmac-unable-to-resell-2-7-billion-in-loans\/"},"modified":"2008-10-06T17:22:00","modified_gmt":"2008-10-06T22:22:00","slug":"gmac-unable-to-resell-2-7-billion-in-loans","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/06\/gmac-unable-to-resell-2-7-billion-in-loans\/","title":{"rendered":"GMAC Unable to Resell $2.7 Billion In Loans"},"content":{"rendered":"<p>This situation is not getting better: <\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p><span style=\"font-size:130%;\"><a style=\"font-weight: bold;\" href=\"http:\/\/www.ft.com\/cms\/s\/0\/0e77f26a-90e4-11dd-8abb-0000779fd18c.html?nclick_check=1\">GMAC $2.7bn loan sale failure<\/a><\/span><\/p>\n<p>GMAC yesterday failed to sell a $2.7bn portfolio of loans as conditions across the credit markets continued to deteriorate.<\/p>\n<p>It put the loans, which are part of GMAC&#8217;s commercial finance business, on the block as part of previously announced plans to shed non-core assets, said a spokeswoman. It withdrew the sale due to &#8220;market conditions&#8221;.<\/p>\n<p>GMAC is majority owned by investors led by private equity firm Cerberus Capital Management. General Motors holds a 49 per cent stake<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>This situation is not getting better: GMAC $2.7bn loan sale failure GMAC yesterday failed to sell a $2.7bn portfolio of loans as conditions across the credit markets continued to deteriorate. It put the loans, which are part of GMAC&#8217;s commercial finance business, on the block as part of previously announced plans to shed non-core assets, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004],"tags":[],"class_list":["post-194303","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194303"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194303"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194303\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}